Thursday, 22 June 2017

EPIC RESEARCH MCX CRUDE OIL UPDATE OF 22 JUNE 2017

Crudeoil trading range for the day is 2646-2914.Crude oil dropped as investors discounted evidence of strong compliance by OPEC and non-OPEC producers with a deal to cut global output.Crude inventories fell 2.5 million barrels, surpassing expectations for a decrease of 2.1 million barrels, as imports rose marginally by 56,000 bpd, the U.S. EIA said.Data from the American Petroleum Institute showed U.S. crude stockpiles last week had dropped more than forecast.